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Gold Prices Fall Below $4,700 Per Ounce on Monday Amid U.S.-Iran Talks Stalemate

GateNews
Metals

On Monday (May 5), gold prices fell below $4,700 per ounce, extending losses from the previous week, as renewed U.S.-Iran peace negotiations stalled and the Strait of Hormuz remained effectively closed, fueling concerns about persistent inflation pressures. The deadlock coincided with oil prices rising amid the ninth week of Middle East conflict, which the International Energy Agency described as the largest energy supply shock on record. Central banks are expected to maintain elevated interest rates for an extended period, pressuring the non-yielding asset.

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